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Movement Labs Terminates Co-Founder Rushi Manche Following Chaotic Week

Decrypt LogoDecrypt1d ago

Movement Labs Terminates Co-Founder Rushi Manche Following Chaotic Week - Decrypt

Quick Summary:

Movement Labs has fired co-founder Rushi Manche and rebranded as Move Industries following a token dumping scandal and market maker backlash.

Rentech, allegedly posing as an affiliate of Chinese trading firm Web3Port, executed the dump, despite legal concerns flagged by Movement’s own counsel.

Coinbase, citing a routine asset review, said it would suspend MOVE trading on May 15.MOVE plunged to $0.1579 following the announcement, its lowest ever.

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Article Details

Author / Journalist: Vismaya V

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-07 @ 07:01:57 (1 days ago)

News Timezone: GMT +8:00

News Source URL: decrypt.co

Language: English

Article Length: 417 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Decrypt

News ID: 28462623

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About Decrypt

Decrypt Logo

Main Topics: Crypto

Official Website: decrypt.co

Update Frequency: 10 posts per day

Year Established: 2018

Headquarters: Estonia

News Last Updated: 8 hours ago

Coverage Areas: Estonia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #63

Publisher Details

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The story "Movement Labs Terminates Co-Founder Rushi Manche Following Chaotic Week" has 417 words across 17 sentences, which will take approximately 2 - 4 minutes for the average person to read.

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The story "Movement Labs Terminates Co-Founder Rushi Manche Following Chaotic Week" was covered 1 days ago by Decrypt, a news publisher based in Estonia.

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Decrypt is a fully independent (privately-owned) news outlet established in 2018 that covers mostly crypto news.

The outlet is headquartered in Estonia and publishes an average of 10 news stories per day.

It's most recent story was published 8 hours ago.

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  • News ID: #28462623
  • URL: https://biskek.beamstart.com/news/movement-labs-terminates-co-founder-17466014485594

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